Monday, February 18, 2008

Market Opens In Positive Territory.

The market today opens significantly higher. The strong buying witnessed across the board. The broader market has surpassed the benchmark index in the opening trade as heavy buying is seen in the Mid Cap and Small Cap stocks. The Metal, Capital Goods and Consumer Durables are the top performer in the opening trade.The overall market breadth is positive as 1,443 stocks are advancing whereas 489 stocks are declining on BSE.

At 10.32AM, the BSE Sensex was down by 35 points at 18,080 and the Nifty was down by 18.35 points to 5,284.55.The BSE Mid Cap increased by 103 points to 7,695 and the BSE Small Cap advanced by 153 points to 9,774.

Bajaj Auto reported the top gainer from the BSE Sensex pack. It was up by (2.26%) at Rs.2,224 while ONGC reported the top loser declined by (2.39%) at Rs.1,008.65.

BSE Realty index dropped by 104.59 points to trade at 10,392.68. The top losers are India Bulls Real declined by (1.45%) to Rs.647, Phoenix Mill decreased by (1.05%) at Rs.446.50 followed by Unitech and MahindraLife down by (1.71%) and (0.13%) to Rs.410 and Rs.650.

BSE Capital Goods index advanced by 73.90 points to trade at 16,492.20. The major gainers are Praj Industries, L&T, Siemens and Punj Lloyd grew by (1.86%), (1.21%), (1.47%) and (1.13%) to Rs.172.25, Rs.3,579.70, Rs.1,587 and Rs.382 respectively.

L&T advanced by (1.19%) to Rs.3,580. The company has won a turnkey project from ONGC worth of Rs.1,250 crores. The project will involve building of three well platforms, sub sea interconnecting pipelines, sub area cables and som modifications for the Mumbai high south field.

Reliance Energy is trading higher by (1.99%) to Rs.1,743. The company''s subsidiary Reliance Power plans to issue bonus shares to all its shareholders except its promoters. This sudden move is done in order to put a positive feeling among the retail investors.

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